A Morgan Stanley investment fund is doubling the number of Grayscale Bitcoin Trust (GBTC) shares it holds.
A filing with the U.S. Securities and Exchange Commission (SEC) shows that the Morgan Stanley Europe Opportunity Fund (EUGAX) increased the number of GBTC shares by 105% from the end of April to late July of this year.
As of April 30th, the Morgan Stanley Europe Opportunity Fund held 28,298 GBTC shares, but this rose to 58,116 shares as of July 31st.
The Morgan Stanley Europe Opportunity Fund invests “primarily in high quality established and emerging companies” believed to be “undervalued at the time of purchase.”
The Grayscale Bitcoin Trust, which gives investors exposure to Bitcoin (BTC) via a traditional investment vehicle, currently boasts $28.2 billion worth of assets under management. Since its inception in September of 2013, GBTC shares have appreciated by 29,028% according to Grayscale.